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The technologies fall under the Internet of Things (IoT) -- the idea of connecting and tracking physical goods through networks and the Web. Zebra's acquisition may be related to the launch of Zebra's Zatar unit in 2013, which focuses on helping businesses use IoT to improve operations. In a press release at the time, Zebra said:

"The increased use of cloud computing and the ubiquity of wireless networks have made connecting devices and sensors more appealing and cost-efficient. This has fueled the rapid growth of the Internet of Things and the race to connect devices and sensors that can be remotely monitored, managed and mined for valuable data."

In December, Zebra acquired Hart Systems, a provider of cloud-based physical inventory management solutions, for approximately $94 million in cash.

Zebra's shares are down about 6 percent at $63.77 at the time of this report, while Motorola Solutions' stock was down about 1 percent at $63.13.